The region was devastated on October 29 by the superstorm that killed over 100 people and left millions stranded in their homes and without power. Many New York, New Jersey and Connecticut cities are still recovering from the natural disaster.

Money raised by the concert will by donated to anti-poverty organisation the Robin Hood Relief Fund which will give aid to those affected in the tri-state area.

"12-12-12 is shaping up to be a showcase of musical royalty. The response of the entertainment community to help those most affected by Sandy has been nothing short of astounding," read a statement from producers James Dolan, John Sykes and Harvey Weinstein confirming plans for the concert on Thursday.

Variety reports a television network has not yet signed on to air the programme but a deal is expected to be announced shortly.